The Islamic Bank of Britain officially launched its third branch in the UK on London Road in Leicester yesterday.
The branch was officially opened for business by Keith Vaz, MP for Leicester East, and Michael Hanlon, managing director of the Islamic Bank of Britain, at a ceremony attended by Charles Kennedy, leader of the Liberal Democrats.
The branch marks the first time that Leicester's 30,000 Muslims will have access to banking facilities from a British bank which is wholly operated in accordance with Sharia'a principles.
Michael Hanlon, managing director, said: "I am delighted we are now be able to offer people in the city the opportunity to use our products and services.
"We have ambitious plans for Islamic Bank of Britain and I see Leicester playing an important role in our development and success."
The bank has existing branches in London and Birmingham and a further seven are planned for this year.